Banka BioLoo Limited has informed the Exchange regarding Board meeting held on September 24, 2025.
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Banka BioLoo Limited's subsidiary, Megaliter Varunaa Private Limited, plans to raise fresh capital from external investors to fund growth in wastewater treatment assets. External investors include Old Bridge Capital Management, Micro Strategies Fund (a Category III AIF), and Massachusetts Institute of Technology (an FPI). The funding will be raised in tranches and is expected to dilute Banka BioLoo's stake in Megaliter from 92.5% to 70%, though Banka will remain the largest shareholder with no change in control. External investors will get the right to appoint a director, and all parties will have pre-emptive rights on future share issuances. A Restated and Amended Shareholders' Agreement will be executed for this purpose.
The dilution of the subsidiary stake from 92.5% to 70% means minority shareholders of Banka BioLoo will have a reduced claim on the subsidiary's future profits, though the company retains control. The involvement of marquee investors like MIT and Old Bridge Capital could be seen positively, signaling validation of the wastewater treatment business. The financial details of the capital raise (size, valuation, pricing) have not been disclosed yet.